Strong growth for Pets at Home as revenue tops £195m
PETS at Home continued its strong revenue growth in 2015 third-quarter with turnover up 7.1% to £195.1m compared to the same period the previous year.
Like for like merchandising sales grew 1.7% with strength in advanced nutrition, omnichannel and recovering sales in health & hygiene products.
But the biggest improvement for the Handforth, Cheshire-based company was in services – up 8.5% driven by strong performances in vet and grooming.
Meanwhile, seven new Pets at Home superstores opened, One Barkers store in Sevenoaks, Kent and there was the launch of a trial format in Dorking, Surrey, branded Whiskers n Paws by Pets at Home.
The company said it was on track to deliver full year 2016 rollout targets of between 20 and 25 new Pets at Home Stores, five Barkers, between 50 and 55 vet practices and between 55 and 60 grooming salons.
Post period end, the company has acquired Anderson Moores, a specialist veterinary referral hospital based in Winchester, Hampshire.
Anderson Moores will operate as a standalone brand in the Vet Group, as a shared venture model through which the existing shareholders retain significant equity ownership
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Pets at Home chief executive Nick Wood said: “We are pleased with the improved trading momentum in our merchandise business, alongside continued strength in our vet and grooming services.
“We are also delighted with our acquisition of one of the UK’s leading specialist hospitals, Anderson Moores, which further develops our presence in this important strategic segment of the veterinary market. We look forward to further growth and expansion in 2016.”
